Hi,

I need some help in transaction

its exactly same like this document https://www.coursehero.com/file/26569229/Fabulous-Fruits-Company1pdf/

so, I'm already start but I need someone to continue it with add this information to the answer:

Project Summm Objective: This project is designed to introduce students to set up merchandising business and its transactions. Process: Working individually, you will choose a type of merchandising business and give it a name. You will then determine the types of assets, liabilities, revenues and expenses that are used in that business. You will then create reasonable transactions for two months for that business. Your transactions must include at least: Initial investment in the business (at least 1) Purchase of long term assets for cash ( at least 2) Purchase of long term assets on credit (at least 2) Sales made for cash or credit (at least 6) Sales returns & Purchase Returns (at least 1 each) Purchases of inventory on Cash or on credit (at least 6) Expenses paid by cash or on credit (at least 2 each) Cash paid to creditors for amounts owing to them (at least 2) CaSh received from customers for amounts owing 'om them (at least 2) Different adjusting entries (at least 2 depreciation entries and any other adjusting entries that are required for your company) Company policies: You will need to set up at least 3 inventory items, 3 customers and 3 vendors (suppliers) and use them in the transactions above. You can set up your own terms and conditions for Credit Sales and Credit purchases. k vegetables Company P.O. Box 13456, Abu Dhabi, UAE k vegetables company (KV) is a new corporation that imports vegetables from Pakistan to sell to supermarkets in Abu Dhabi. It sells the following: Product Selling price Cost Price Supplier 1 Broccoli AED 16 per kilo AED 11 per kilo Chaudhry trading Inc. 2 Pumpkin AED 20 per kilo AED 16 per kilo Ahmad and sons Farms 3 Sweet potatoes AED 18 per kilo AED 14 per kilo Anchor Ltd The purchase terms for all suppliers are n/30 and the credit limit is AED 100,000 each. KV has 3 main customers: 1. Baniyas Co-Operation Association terms 2/10, n/30, credit limit 100,000 2. Al-Reef Co-operative society & services terms 2/10, n/30, credit limit 100,000 3. Ramez Hypermarket terms 2/10, n/30, credit limit 100,000 KV is starting business on January 1, 2018 and they would like you to set up their company on Peachtree using the accrual basis, real time, and a perpetual FIFO inventory system. Current Assets Equity Cash Common Stock Accounts Receivable Retained Earnings Inventory Office Supplies Revenue Prepaid Rent Sales Revenue Prepaid Insurance- Sales discounts Fixed Assets Expenses Office Equipment Cost of goods sold Acc. Depreciation- Off.Eq. Utilities expense Salaries expense Current Liabilities Rent expense Accounts payable Insurance expense Office supplies expense Depreciation expense